【$ENJ Signal】Pullback to go long, short squeeze structure initially appears

$ENJ 1H level RSI surges to 88, price directly breaks out of the 4H Bollinger upper band, clear signs of a buying gap. But funding rate is -0.15%, open interest remains stable, and shorts are still holding strong despite the rally, a typical short squeeze fuel structure.

🎯Direction: Pullback to go long

⚡Entry/Order: Between 0.03186 - 0.05097, prioritize placing orders around 0.038.

🛑Stop loss: 0.02706

🚀Target 1: 0.04146

🚀Target 2: 0.04626

🛡️Trade management:
- Execution strategy: After reaching Target 1, reduce position by 50%, and move stop loss to breakeven. If the price falls back into the entry zone, exit automatically to protect capital.

This negative fee rate combined with strong price action suggests that the potential buy pressure from short covering is the main driving force moving forward. The 1H MACD fast and slow lines are opening upward, indicating momentum is still there, but the 4H level is seriously overbought, making chasing higher very risky. The order book shows heavy orders below 0.0508, exposing the bottom support intent; waiting for a profit-taking wave to subside before a second entry is more prudent. The risk-reward ratio is not friendly at current high levels; patience is needed until the market offers a better price.

Check real-time quotes 👇 $ENJ
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